According to the latest report published by Credence Research, Inc. “Thyroid Gland Disorders Treatment Market(Treatment Type: Hypothyroidism and Hyperthyroidism): Growth, Future Prospects and Competitive Analysis, 2016-2022,” the thyroid gland disorders treatment market was valued at USD 1.9 Bn in 2015, and is expected to reach USD 2.5 Mn by 2023, expanding at a CAGR of 3.3% from 2016 to 2023.

Growth in healthcare investments, prevalence of thyroid disorders and growing high-risk geriatric population are the major factors driving the global market growth for thyroid gland disorders treatment. North America is the largest regional market at a market share of over 41% in 2015, and the dominance of this region is anticipated to continue through 2022.

Rising number of patients suffering from thyroid diseases in U.S. is the key driver to the market growth. According to American Thyroid Association (ASA), more than 12% of the U.S. population will develop a thyroid condition during their lifetime and an estimated 20 million Americans have some form of thyroid disease. Moreover, rising awareness regarding the thyroid diseases would further drive the market growth.

The thyroid gland disorders treatment market is majorly segmented into hypothyroidism and hyperthyroidism treatment. The hypothyroidism treatment includes drugs such as levothroxine and liothyronine, while hyperthyroidism treatments include drugs such as imidazole and propacil. The thyroid gland disorders treatment market is propelling due to the factors such as rise in the patient base suffering from thyroid disorders, rising geriatric population and consistent introduction of innovative and novel therapeutics by market players leading to the growth of the market.

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